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... Massa- chusetts: National Bureau of Economic Research). ———, and Menzie D. Chinn, 2004, “A Decomposi- tion of Global Linkages in Financial Markets Over Time, ” The Review of Economics and Statistics, ... “Investors’ Risk Appetite and Global Financial Market Conditions,” IMF Working Paper 08/85 (Washington: Interna- tional Monetary Fund). Honohan, Patrick, and Luc Laeven...

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... private sector decision- making. There has also been an extensive agenda of microeconomic reforms intended to open individual sectors of the economy to competitive pressures and to allow market signals ... 1985 • sweeping deregulation of financial markets, including the abolition of controls on capital movements • changes to both state sector and private sector labour market...

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... necessary also for financial- market development. Financial markets and other intermediaries help in bringing savers and investors together and can find innovative solutions to financial problems. ... of interest and cost-free monitoring, managers and investors would be expected to agree on the extent and nature of financial information to be provided. In reality,...

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